Loudoun Innovation Challenge 2024: New Format, New Opportunities for Entrepreneurs

Loudoun Innovation Challenge 2024: New Format, New Opportunities for Entrepreneurs

The Loudoun Innovation Challenge presented by the Loudoun County Department of Economic Development and Loudoun Economic Development Authority returns for 2024, offering an opportunity for local entrepreneurs and innovators to showcase their ideas and compete for a piece of $70,000 in prize money.

Four Challenge Categories will be featured this year:

• Life Sciences
• Cyber and Defense
• Highly Specialized Manufacturing
• Clean Technology

Each category winner receives $15,000, and the People’s Choice Award, determined by public vote, offers an additional $10,000. Beyond the prize money, winners also gain access to a six-week Growth Program led by Startups Ignite and a full year of personalized mentorship, offering invaluable guidance as they scale their businesses.

Applications are now open and close at Midnight on October 9, 2024. Winners will be announced at a prestigious gala event on December 5, 2024, at Belmont Country Club. The gala will bring together Loudoun entrepreneurs and business investors for an evening of celebration and networking.

“This year’s Innovation Challenge reflects our continued commitment to fostering a thriving and diverse business community in Loudoun County,” said Buddy Rizer, Executive Director of Loudoun Economic Development. “Investing in innovation is critical to ensuring the long-term economic vitality of our region. By supporting local entrepreneurs and their big ideas, we’re not just growing individual businesses, we’re creating a foundation for sustainable growth and opportunity in Loudoun.”

A new approach this year, with video pitch submissions replacing the live event format, aims to streamline the submission process, giving entrepreneurs more flexibility and allowing for a broader range of participants. The previous Agri-Tech category has been integrated into all categories this year, giving Loudoun agriculture entrepreneurs more diverse opportunities for showcasing their ideas.

For more information and to apply for the 2024 Loudoun Innovation Challenge, visit LoudounInnovationChallenge.com.